Business news from Ukraine

Business news from Ukraine

UDP RENEWABLES AND QATAR’S NEBRAS POWER ANNOUNCE ENTRY INTO UKRAINIAN ELECTRICITY MARKET

Nebras Power is announcing its entry into the Ukrainian electricity market with the acquisition of six solar projects and a partnership agreement with UDP Renewables, Nebras Power reported on Twitter.
According to a report on the website of the president of Ukraine, UDP Renewables investment and development company and the Qatari state-owned company Nebras Power have signed an agreement to invest in “green” generation facilities, the construction of which is scheduled for 2021-2022.
According to the agreements reached, Nebras Power becomes the owner of a controlling stake in a number of solar power plant operators.
The signing of the agreement will contribute to deepening cooperation between Ukraine and the State of Qatar in the field of foreign investment and the development of renewable energy sources, an innovative economy and environmental protection, the President’s Office noted.
As reported, at the end of January, the Antimonopoly Committee of Ukraine (AMCU) authorized Nebras Power Investment Management B.V. (the Netherlands), a member of the Qatar group Nebras, to receive 50% or more in six companies operating solar and wind power plants of businessman Vasyl Khmelnytsky and his partners.
According to the committee, the matter concerns 50% in Volyn West Wind-1 LLC and Volyn West Wind-2 LLC, as well as more than 50% in Free Energy Henichesk LLC, Scythia-Solar-1 LLC, Scythia-Solar-2 LLC and Port Solar LLC.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 09/04/21

National bank of Ukraine’s official rates as of 09/04/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF APRIL 07

Official rates of banking metals from national bank as of April 07

One troy ounce=31.10 grams

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PRINCE PHILIP PASSES AWAY

The spouse of Queen Elizabeth II of Great Britain, Prince Philip, has passed away at the age of 99, two months before his 100th birthday, a statement released by Buckingham Palace Friday reads.
“It is with deep sorrow that Her Majesty The Queen announces the death of her beloved husband, His Royal Highness The Prince Philip, Duke of Edinburgh.
His Royal Highness passed away peacefully this morning at Windsor Castle,” the Palace’s statement reads.

UKRAINIAN UNTREATED TIMBER SHOULD BE SOLD EQUALLY AT AUCTIONS AND UNDER LONG-TERM CONTRACTS

Ukrainian woodworkers have proposed that 50% of unprocessed timber is sold at electronic auctions and 50% is sold under long-term contracts on the term of the offer, aiming at stable development of forestry and support of deep processing of wood.
The concept, proposed for amending a bill on the wood market, was announced by Director General of Kronospan Ukraine LLC Natalia Pokinska at a press conference organized by the InvestRivne agency in Kyiv on Thursday.
According to her, industry representatives are proposing a “cascade” principle of holding auctions on electronic platforms, i.e. they can be of four types: basic, additional, repeated and additional repeated.
At the same time, the participants in the main auctions should be woodworking enterprises that have submitted a declaration on the relevant activity and are included in the register of wood processing entities, and the participants in the additional ones – buyers of wood for needs not related to processing and production of products from it, as well as manufacturers of wood chips and companies that use timber as an alternative source of energy, biofuel producers and nonresidents.
“If we compare an entity that buys raw materials for the production of chipboard and a buyer for biofuel production, they are also in different categories for government support, since the energy industry provides for certain subsidies, and such buyers can pay more for raw materials and compete with the real sector which deeply processes wood,” Pokinska said.
Regarding the conclusion of contracts for the sale of timber on the term of the offer, industry representatives also propose to conduct them on a transparent electronic platform (“forest portal”), and publish the results automatically after the offer was approved to avoid accusations of non-transparency or behind-the-scenes of the process.
“We have analyzed the laws of other states, EU directives, and we can say that such a cascade is a guarantee of deeper processing of raw materials with high added value,” the director general of the company said.

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JOINT UKRAINIAN-TURKISH BUS PRODUCTION PLANNED TO BE CREATED IN UKRAINE

A Memorandum of Cooperation between the Kharkiv City Council and the Turkish bus manufacturing company Karsan was signed in Kharkiv during the international forum Municipal Infrastructure: Urban Development and Comfort.
The press service of the Kharkiv City Council said, citing Secretary Ihor Terekhov, that it is planned to purchase about 500 Turkish-made buses within several years. This will become the basis for the creation of municipal bus public transport, as well as to start joint production of buses in Kharkiv.
“We have agreed with our Turkish partners that these buses will be assembled in our city. For this we will create about 300 jobs. Turkish investors will decide on the basis of which enterprise this will take place. But negotiations with local business are already underway. For Kharkiv this is an economically viable project,” the press service said, citing Terekhov.
According to him, about 150 buses of different classes (8-meter buses for rush hour traffic and 6-meter buses for transportation when traffic is less) are planned to be purchased by the end of the year. These are low-floor buses with hufter-proof coating.

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